Jamjoom Pharma expects up to 15% revenue growth over next 2 years, plans expansion

Logo of Jamjoom Pharma

Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) expects revenues to grow by 12% to 15% between 2024 and 2026, while capital expenditures are likely to reach 4% to 6% of revenues.

In its 2023 financial statement, the company forecasts semi-annual dividends at a rate between 50% and 60% during the same period.

Meanwhile, Jamjoom Pharma will retain its long-term focus on the Middle East and Africa, with plans to expand into selected high-potential markets in the coming years.

Jamjoom Pharma’s CEO Tarek Hosni said that the company achieved strong performance supported by increased sales volume, higher prices and the launch of new products, which led to revenue growth on an annual basis.

He added that the company achieved multiple-fold growth in all its therapeutic fields and most of its main markets as 11 new products were added to the product portfolio in 2023. In addition, the efficiency of sales and distribution increased.

Hosni indicated that Jamjoom Pharma aspires to maintain profit margins in the sector and drive sustainable growth through strategic investments in manufacturing, digital transformation, and workforce development.

According to data compiled by Argaam, the company posted a net profit of SAR 292.4 million in 2023, leaping 71% from SAR 171.3 million a year earlier. Q4 profit stood at SAR 44.5 million.